Question 1

Can I use business bank statements instead of personal?

Accepted Answer

Yes, but most lenders apply an expense factor — often 50%. Personal statements typically count 100% of deposits.

Question 2

Do I need to be self-employed for a certain length of time?

Accepted Answer

Most lenders require 2 years of self-employment. Some non-QM lenders allow 1 year with strong compensating factors.

Question 3

How is my income calculated from bank statements?

Accepted Answer

Lenders average your monthly deposits over 12 or 24 months. That monthly average becomes your qualifying income figure.

Question 4

Are bank statement loan rates higher than conventional rates?

Accepted Answer

Yes, typically. Non-QM loans carry a rate premium over conventional. Rates vary by borrower profile and market conditions.

Question 5

Can I buy a home in Dixon with a bank statement loan?

Accepted Answer

Yes. Bank statement loans work for purchases and refinances. Solano County properties are a practical fit for this program.

Question 6

What credit score do I need for a bank statement loan?

Accepted Answer

Most lenders start at 620. Higher scores — 700 and above — get meaningfully better pricing on non-QM products.

Bank Statement Loans for Dixon's Self-Employed Buyers